Technical analytics

Fibonacci analysis of USD/CAD


The US dollar recovery stalled at 1.3300. The major faced a selling rejection here and retreated to 1.3250. The spot spent the rest of the day hovering above this level. The currency pair continued its neutral stance in the night.  

The Fibonacci level 50.0% is located in the 1.3220 area and is an additional support for the USD/CAD pair. The next Fibonacci level 61.8% is in the 1.3120 region. The EMA50 continued moving downwards crossing the EMA200 which was neutral. MACD formed another signal to rise and approached the mid-line. The Stochastic left the overbought levels, favoring a new move lower. The resistance stands at 1.3300, the support is at 1.3250.  

If USD/CAD stays above 1.3250, the currency pair might advance to 1.3330 where the EMA50 is located.

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